Russian pyramid scheme operators have turned to crypto en masse, warns Moscow

Two-thirds of Russian financial pyramid scheme operators use crypto, the country’s central bank says, with citizens sending Bitcoin and other tokens to over 4,600 criminal group-owned crypto wallets. The central bank says it identified 7,087 financial pyramids, pseudo-brokers, and other fraudulent schemes last year. The bank says 80% of these pyramids operated online, with the majority using crypto and money mules. “Most of the illegal projects [...] had no offices and interacted with potential clients ...